Creative Corner: The trick to getting started

Young entrepreneurs need contacts if they are to succeed

Nov. 28, 2012

Written by

Andrew Stickney and Tucker Severson

On Oct. 18, UVM launched an innovative program to help students starting businesses to raise the initial funds and find mentors from its vast alumni base. Since starting the project, we have been asked the traditional how and why questions many times. But recently, in helping us prepare to write this piece, the Burlington Free Press posed a deeper question, “How does this fit into the bigger picture of the Vermont economy?”

To offer some background to the project, in the spring of 2012 we were approached by Elizabeth Robinson to discuss a program that she set up at Middlebury College named, MIDDstart. This micro donation platform allowed Middlebury students to post projects and attract funding through alumni donations. After partnering with our friend and mentor Dr. John Evans of UVM and the Vermont Technology Council, we crafted the initial proposal that would focus on student entrepreneurs, and help them connect with the alumni and the public, to find mentoring, connections, and donations — ingredients that can make all the difference for young entrepreneurs.

Through Dr. Evans, we were able to create partnerships with the UVM Foundation and Vermont Tech Council and with the help of several faculty, staff, and local professionals, UVM Start went from conception to launch in just under three months. On Oct. 18, uvmstart.org launched with seven student teams sharing their stories, and asking for support from alumni.

When thinking about how a program like UVM Start ties into the Vermont economy, it has helped to take the perspective from our roles at the Vermont Center For Emerging Technologies (VCET), where we are charged with finding ways to catalyze the entrepreneurial ecosystem of Vermont. During early conceptual discussions, our team was highly conscious of the deep entrepreneurial spirit at UVM and the equally large need for mentoring and microfunding.

More important than any one of those elements however, was the need for a clear path for students — one where few barriers stood between having an idea, and bringing that idea to life. Breaking down these walls and simply giving the students a shot at making their ideas a success has been most effective way of helping them succeed.

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While we acknowledge not every product or service idea will be successful, the student teams involved with UVM Start are obtaining valuable coaching from the partners along the way, and learning key skills that will benefit future entrepreneurial endeavors, as well as make these students immeasurably more valuable to future employers.

Skills like leadership, project management, negotiation, and financial management, that are simply better taught in a hands-on setting, are direct results of their involvement with UVM Start. Regardless of the success of the individual project, UVM Start is helping to teach, connect and support entrepreneurs from an early stage.

Many would agree that Vermont is both an attractive place to start a business, and that entrepreneurship is crucial to our economy. Indeed Vermonters have shown a willingness to innovate that outperforms 42 of our state counterparts. UVM Start is a channeled way of helping the next generation of Vermont entrepreneurs get connected earlier, find much needed support, and learn invaluable skill sets that all entrepreneurs need. By giving students these skills during their education, the Vermont economy stands to reap the benefits of well supported, forward thinking entrepreneurs for many years beyond their graduation.